Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (11,545,800) $ (11,649,500)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 52,100 37,900
Stock-based compensation 1,456,500 1,785,000
Amortization of fair value of common stock issued for services 92,100 207,300
Fair value of common stock issued for product license and option 0 2,250,000
Amortization of fair value of warrants issued for services 13,800 25,100
Changes in operating assets and liabilities:    
Receivable from supplier 300,000 0
Prepaid expenses and other current assets (229,200) 365,400
Right of use asset - operating lease 164,900 0
Operating lease liability (127,100) 0
Accounts payable and accrued expenses 924,500 (212,300)
Deferred rent 0 128,000
Net cash used in operating activities (8,898,200) (7,063,100)
Cash flows from investing activities:    
Construction of tenant improvements 0 (169,800)
Net cash used in investing activities 0 (169,800)
Cash flows from financing activities:    
Net proceeds from issuance of common stock and warrants, including Units 0 4,778,700
Proceeds from exercise of warrants 0 7,500
Repayment of financing lease obligation (1,500) (1,300)
Repayment of notes payable (128,200) (98,700)
Net cash (used in) provided by financing activities (129,700) 4,686,200
Net decrease in cash and cash equivalents (9,027,900) (2,546,700)
Cash and cash equivalents at beginning of period 13,100,300 10,378,300
Cash and cash equivalents at end of period 4,072,400 7,831,600
Supplemental disclosure of noncash activites:    
Insurance premiums settled by issuing note payable 230,200 160,500
Accrued dividends on Series B Preferred $ 616,300 $ 557,100